PYMNTS

DECEMBER 18, 2020

Facebook’s Libra might be fading a bit as a perceived threat to monetary systems that have been in place around the globe for centuries. But the race is still on for central banks to develop their own digital versions of fiat to take their place alongside bills and coins. To that end, the Bahamas may stand out as an epicenter of sorts for the rise of central bank digital currencies (CBDCs).

Massachusetts 142

Massachusetts Technology Retail 142

Katz,Sapper&Miller

DECEMBER 18, 2020

Several months ago, HHS announced that receiving Provider Relief Funds under the Coronavirus Aid, Relief, and Economic Security Act could impose an audit requirement for healthcare providers. Based on requirements, for-profit companies, called commercial organizations by the Department of Health and Human Services (HHS), are to include PRF in the basis for determining audit requirements.

Healthcare 92

Healthcare audit 92

PYMNTS

DECEMBER 18, 2020

The U.S. Treasury Department proposed sweeping new rules late Friday (Dec. 18) that the government says would make convertible digital currencies like bitcoin less attractive to criminals engaging in crimes such as ransomware attacks. The new regulations, if adopted after a comment period, would require banks and some other institutions to obtain and report the identities of parties engaging in certain digital transactions, including payments involving what are called "unhosted wallets" – effect

accounting and finance 141

accounting and finance Government Finance Account 141

inDinero Tax Tips

DECEMBER 18, 2020

When the Rolling Stones play Start Me Up , we’re pretty sure they aren’t singing about business startups. However, the tax rules for startup costs can make a grown man cry. Let’s take a close look so you can have some satisfaction in your understanding of this important startup business issue. And maybe you can save a few dollars of income taxes along the way.

Start-ups 52

Start-ups payroll tax payroll Tax 52

Speaker: Nancy Wu, Head of Sales and Customer Success at SkyStem

Join us for an enlightening webinar as we delve into the transformative realm of modern accounting practices. In today's digital age, the convergence of outsourcing and automation has revolutionized how businesses manage their financial operations. In this webinar we will explore the synergistic potential of these two strategies to streamline processes, enhance accuracy, save cost and drive strategic decision-making.

PYMNTS

DECEMBER 18, 2020

Digital trust-and-safety company Sift said that 2020 has been a “banner year” for online shopping sales, but that scammers have modified their approaches to take advantage of the boom, according to an announcement. The company said that malicious actors are moving away from the usual “spray and pray” strategy that entails conducting dozens or hundreds of lower-value transactions with stolen payment data, and are instead making fewer and larger attacks.

Retail 133

Retail Sales Account accountant 133

RitaKeller

DECEMBER 18, 2020

“The opportunity to step away from everything and take a break is something that shouldn’t be squandered.” – Harper Reed. I’m in the Holiday spirit right now. I am guessing that you are, too. After this weekend, you have a 4-day weekend and a 3-day weekend coming up. Use your time-off from work wisely (meaning, don’t work!).

Gaming 40

Gaming 40

PYMNTS

DECEMBER 18, 2020

The holiday shopping season is in full swing — and it’s increasingly looking like “’tis the season for purchasing subscriptions.”. Recurly CEO Dan Burkhart told Karen Webster in a recent discussion that consumers are asking themselves how to give gifts that will have lasting impacts on the intended recipients. He said many are finding that subscriptions are an ideal to check that box.

Entertainment 120

Entertainment Retail Start-ups Technology 120

PYMNTS

DECEMBER 18, 2020

Top Apple executive Craig Federighi, who oversees the iOS and macOS operating systems, has been ordered by a federal judge to testify in the lawsuit Epic Games brought against the Cupertino, California-based company, Apple Insider reported. Apple Chief Executive Tim Cook already is expected to testify in the case, in which Epic challenges Apple's rules governing the selling of programs and subscriptions through its App Store.

Gaming 120

Gaming California Government Legal 120

PYMNTS

DECEMBER 18, 2020

PayPal is extending additional support to Black-owned businesses by way of a $5 million grant that builds on the $10 million PayPal Empowerment Grant program launched in June. . "When we made our initial commitment, we understood that decisive action was needed to make progress toward economic equality and closing the racial wealth gap that has persisted for far too long in this country," Dan Schulman, president and CEO of PayPal, said in a press release on Friday (Dec. 18). .

114

114

PYMNTS

DECEMBER 18, 2020

Criminals seeking to exploit unmet demand for the COVID-19 vaccine are selling doses – many presumably fake – on the "dark web," the portion of the internet dominated by merchants who operate beyond easy reach of law enforcement agencies, the Financial Times reported on Friday (Dec. 18). The newspaper cited examples of vendors selling vaccines produced in Western countries and in China, ranging in price from $250 to $750.

Pharmaceutical 109

Pharmaceutical Government 109

Advertiser: Paycor

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PYMNTS

DECEMBER 18, 2020

The direct connection between consumer packaged goods (CPG) and the gaming business continues to strengthen. In fact, this week they became inseparable, because Mtn Dew has introduced a soda aimed at gamers with a loyalty program to drive gameplay as well as purchases. The new Mtn Dew brand is called Game Fuel. Not only is the product new, but it is attached to a direct-to-consumer (D2C) shopping experience and an exclusive eCommerce site.

Gaming 107

Gaming Entertainment Start-ups Retail 107

PYMNTS

DECEMBER 18, 2020

Chinese companies held 30 initial public offerings (IPOs) this year, raising $11.7 billion, despite a tumultuous year in China-U.S. relations. The IPO rate for Chinese companies is the highest since Alibaba’s massive market debut in 2014, according to CNBC , citing a new report from Renaissance Capital. The Chinese IPO boom comes amid heightened tensions between the U.S. and China over trade and security issues.

Real Estate 107

Real Estate audit Sales Account 107

PYMNTS

DECEMBER 18, 2020

FedEx reported on Friday (Dec. 18) as part of its Q2 fiscal 2021 earnings that higher volumes in international priority and U.S. domestic residential package services, in addition to pricing initiatives throughout all transportation segments, fueled increased operating results. The company said that those factors were offset, in part, by expenses to help with formidable demand and to grow services, pandemic-related costs and “variable compensation expense.”.

Illinois 105

Illinois Transportation 105

PYMNTS

DECEMBER 18, 2020

The standard coupon or rebate experience isn’t great for either the consumer or merchant. The customer has to keep track of a piece of paper or code to hand over at the point of sale, while the merchant gets a fraction of the transaction’s funds and must wait for the rest to come in the form of reimbursement for that coupon. It’s a lot of friction – which means a lot of coupon and rebate offers get stuffed into drawers, where they languish forgotten by their owners who can’t be bothered with the

Start-ups 100

Start-ups Maine Retail Technology 100

Speaker: James Kahler, COO of Full Course

Ever wondered where to splurge and where to safely conserve when it comes to operating and growing your restaurant? 🤔 Join James Kahler, COO of Full Course and industry visionary, in this new webinar where he'll talk all about best practices to invest in your restaurant's success! Whether you're a new business or an established restaurant, a seasoned pro or a rookie, you'll learn the keys to sustainable success in this competitive industry.

PYMNTS

DECEMBER 18, 2020

A month after its purchase by Mastercard was cleared by the Department of Justice (DOJ), open banking platform Finicity announced on Friday (Dec. 18) that it has signed a data access agreement with Brex , a company that provides financial services that help scale early-stage businesses. According to Finicity, the move extends its leadership in providing direct data access through the use of APIs to the FinTech category.

accounting apps 97

accounting apps Account accountant accounted 97

PYMNTS

DECEMBER 18, 2020

Intuit’s financial services platform Credit Karma has introduced a tool called Karma Drive to help people save money on car insurance with a usage-based product. . “For many of our members, a vehicle is their largest and most costly asset,” Rory Joyce , senior director of product, Credit Karma Auto, said in a press release on Friday (Dec. 18). “Karma Drive delivers on our vision to bring transparency, fairness and accuracy to our members’ auto expenses with an easy opportunity to potentially sav

Tax 96

Tax 96

PYMNTS

DECEMBER 18, 2020

Social media-focused clothing reseller Poshmark became the latest platform company to file for an initial public offering (IPO) this week, hoping to catch an IPO wave that saw big first-day pops recently for Airbnb and DoorDash. Poshmark is a popular site for consumers to sell secondhand clothes, relying on a heavy social media aspect in which buyers and sellers interact and share “likes” about items instead of just conducting commerce.

Sales 92

Sales Start-ups Technology Retail 92

PYMNTS

DECEMBER 18, 2020

The past year has been — by almost any measure — one of the hardest ever for the restaurant industry, with the ongoing pandemic hurting few sectors more than hospitality and dining. The National Restaurant Association ’s initial 2020 outlook was bright, as it projected sales just shy of $900 billion. Social distancing guidelines, stay-at-home orders and mandated dining room closures around the U.S. slowed restaurant traffic to a trickle, however, resulting in just $659 billion in revenue by year

Hospitality 91

Hospitality Gaming Sales Technology 91

Speaker: Jamie Eagan

As organizations strive for agility and efficiency, it's imperative for finance leaders to embrace innovative technologies and redefine traditional processes. Join us as we explore the pivotal role of digitalization and automation in reshaping what is commonly referred to as the “last mile of reporting”. We’ll deep-dive into why digitalization is no longer a choice, but a necessity for finance departments to stay competitive in a fast-paced environment touching on: 2024 trends for the Office of

Technology

PYMNTS

DECEMBER 18, 2020

Amazon Inc. made good on its previously announced plan to allow group audio- and video-conference calls on its Echo devices, The Verge reported. The feature will work on Echo, Echo Dot and Echo Show in the U.S., Canada, Mexico, Brazil, Australia, the U.K. and parts of Europe, the report noted. The service appears to present a direct competitor to Zoom and Microsoft Teams in the market to provide group calls to relatively small groups of people.

Technology 88

Technology 88

PYMNTS

DECEMBER 18, 2020

Microsoft has been hacked as part of what officials say could be a Russian campaign that hit multiple U.S. government agencies, Reuters reports. The attack happened, according to experts, when the culprits took advantage of software from SolarWinds Corp. , sources told Reuters. On Sunday (Dec. 13), it was reported that SolarWinds' Orion Platform software was involved in “active exploitation.”.

California 87

California Government 87

PYMNTS

DECEMBER 18, 2020

The livestream collectibles auction platform Whatnot has raised $4 million in a seed funding round backed by Scribble Ventures, Wonder Ventures, Y Combinator, and others. “Fandom had always had a place online, but truly thrived at in-person events and local retailers that catered to collectors and enthusiasts’ interest in one-of-a-kind and holy grail items,” Logan Head, co-founder and chief technology officer of Whatnot, said in a press release on Friday (Dec. 18). .

Gaming 86

Gaming Retail Sales Technology 86

PYMNTS

DECEMBER 18, 2020

Nordstrom is leveraging the coronavirus-fueled appetite for digital shopping and same-day delivery by rolling out a service that will deliver through Christmas Eve in the New York City area, the company said in a press release on Friday (Dec. 18). Customers can have digital orders delivered or picked up curbside, or can have merchandise rush-shipped or delivered to a store.

New York 83

New York Washington Retail 83

Advertiser: Paycor

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PYMNTS

DECEMBER 18, 2020

Secondhand eCommerce platform Poshmark filed for an initial public offering (IPO) after posting more than $30 million in profit across two consecutive quarters. “We only recently became profitable and have experienced net losses. We may not be able to sustain our profitability and our revenue growth rate may decline,” wrote the company in the S1 filed with the U.S.

Retail 82

Retail 82

PYMNTS

DECEMBER 18, 2020

Credit Suisse has been indicted by Swiss prosecutors for allegedly failing to prevent money laundering, Bloomberg reports, adding that a former bank manager was also indicted alongside Credit Suisse. The lender, according to the report, “failed to take all the organizational measures” required to be considered reasonable to guard against the laundering of money made from selling cocaine, which was then used to buy property in Switzerland and Bulgaria, according to the Office of the State Attorne

81

81

PYMNTS

DECEMBER 18, 2020

Darden Restaurants, Inc. reported Friday (Dec. 18) as part of its fiscal Q2 2021 earnings that total sales dropped 19.4 percent — fueled by a 20.6 percent drop in blended same-restaurant sales and offset in part by the addition of 19 net new eateries despite the pandemic. Darden CEO Gene Lee said that the company, which owns the Olive Garden, LongHorn Steakhouse, the Capital Grille and other sit-down chains hit hard by the pandemic, focused on four priorities during the quarter.

Sales 80

Sales Technology 80

PYMNTS

DECEMBER 18, 2020

Gojek , which bills itself as "Southeast Asia's leading on-demand services and payments platform," said in a news release that it has invested in Indonesia-listed technology-based Bank Jago. Gojek produces a digital wallet and payments platform called GoPay. Jago's home country, Indonesia , has one of the largest unbanked populations in the world – about 95 million adults, or 52 percent of adults in the country, are unbanked and 47 million are underbanked, according to World Bank Data cited by G

Technology 77

Technology accounting and finance Finance Account 77

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Finance

PYMNTS

DECEMBER 18, 2020

This week showed investor interest in B2B FinTech companies in international markets, as a trade finance platform in India and a human resources (HR)/payroll cloud software firm in the U.K. landed funding rounds. But it was a Bellevue, Washington-based beauty and wellness industry enterprise software firm that secured the largest funding this week, coming in at $160 million.

B2B 77

B2B Agriculture Washington Non-Profits 77

PYMNTS

DECEMBER 18, 2020

Something’s going to happen with paper checks, paper invoicing — the whole paper thing on a grand scale — and businesses need to be ready for that eventuality. It’s one definition of “resilience,” of which much is needed during this time of upheavals and unknowns. For the new B2B Payments Innovation Readiness Playbook: Adapting to Cash Flow Challenges Posed by the Pandemic , a PYMNTS and American Express collaboration, researchers surveyed over 2,200 treasury executives from small to large busin

Technology 76

Technology B2B Maine Account 76

PYMNTS

DECEMBER 18, 2020

Facebook’s messaging app WhatsApp is introducing a beta version of voice and video call capabilities on its desktop app, WABetaInfo reported on Friday (Dec. 18). WhatsApp is the second-most popular messaging app after Facebook, with over 2 billion users around the world. WhatsApp already offers voice and video calling on its mobile app. Users that are selected for the beta testing will see new chat and video buttons in the window.

71

71

PYMNTS

DECEMBER 18, 2020

If the pandemic has taught banks anything, it’s that corporates need to offer a range of payment methods to their customers — whether those customers are consumers (for B2C transactions) or enterprises ( B2B ). And in an On The Agenda discussion with Karen Webster, Deepak Gupta , global head of Payments-as-a-Service (PaaS) at cloud payment processor Volante , and Sairam Rangachari , head of platform payments at Onyx by J.P.

B2C 67

B2C B2B Start-ups payroll 67

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"Offer payroll and do it yourself,” they said. “It’ll be fun!” Spoiler alert: It was not fun. Most CPA firms know that they need to offer payroll services to their clients or risk losing them to another firm that will. However, many don’t really want to. It is often time-consuming and complex due to changing tax laws and regulations, and with the growing staffing shortages, most just don’t have the resources.

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